Start Scientific, Inc.’s (STSC) Oil Extraction,
Post# of 36
Posted On: 03/16/2015 5:06:53 PM
Start Scientific, Inc.’s (STSC) Oil Extraction, Drilling, Excavation & Delivery Plan in Action
Start Scientific is a development-stage oil and gas development, exploration, drilling and extraction company strategizing to take advantage of oil and gas exploration and development opportunities that are often overlooked by larger oil and gas companies.
The company is currently establishing leases and joint venture partnerships for its project portfolio comprised of shallow, deep, and horizontal drilling opportunities in Mississippi, Texas, North Dakota and West Virginia. The geographic diversity of the projects provide Start Scientific a broader scape of exploration and drilling opportunities.
Start Scientific’s initiatives are backed by a management team that contributes more than half a century of combined industry experience to the company’s mission to explore low-risk land lease opportunities on properties with known oil deposits, develop facilities on these properties to cost effectively extract the oil, and to distribute the refined oil for sale in the open market.
In January Start Scientific advanced on this mission by signing two farmout agreements in Jackson, Mississippi.
Per the first agreement, with BPS Operating Services LLC, Start Scientific has until April 1, 2015, to tender $500,000 for the first well to be drilled in the Flora Field of Madison County. The production interest includes 40 acres around the new well and Start Scientific will earn a 75% working interest before payout, and a 60% working interest after payout. All of the production facilities, salt water disposal systems, and 33 well bores are in place.
The second farmout agreement, signed with Durban Energy, Inc., gives Start Scientific until July 10, 2015, to commence drilling a new well on the farmout acreage, the Fayette Field. The company will receive 100% of the net revenue until payout of all costs, at which time Start Scientific will assign a 25% working interest to Durban and partners. There is a 30% royalty burden on the leases, which means that before payout Start Scientific will have 70% of net revenue and after payout the company will have 52.5% of net revenue and Durban will have 17.5% of net revenue.
Operating from its headquarters in San Antonio, Texas, Start Scientific leverages an experienced management team and growing project portfolio to advance its corporate initiatives.
For more information, visit www.startscientificoil.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
Start Scientific is a development-stage oil and gas development, exploration, drilling and extraction company strategizing to take advantage of oil and gas exploration and development opportunities that are often overlooked by larger oil and gas companies.
The company is currently establishing leases and joint venture partnerships for its project portfolio comprised of shallow, deep, and horizontal drilling opportunities in Mississippi, Texas, North Dakota and West Virginia. The geographic diversity of the projects provide Start Scientific a broader scape of exploration and drilling opportunities.
Start Scientific’s initiatives are backed by a management team that contributes more than half a century of combined industry experience to the company’s mission to explore low-risk land lease opportunities on properties with known oil deposits, develop facilities on these properties to cost effectively extract the oil, and to distribute the refined oil for sale in the open market.
In January Start Scientific advanced on this mission by signing two farmout agreements in Jackson, Mississippi.
Per the first agreement, with BPS Operating Services LLC, Start Scientific has until April 1, 2015, to tender $500,000 for the first well to be drilled in the Flora Field of Madison County. The production interest includes 40 acres around the new well and Start Scientific will earn a 75% working interest before payout, and a 60% working interest after payout. All of the production facilities, salt water disposal systems, and 33 well bores are in place.
The second farmout agreement, signed with Durban Energy, Inc., gives Start Scientific until July 10, 2015, to commence drilling a new well on the farmout acreage, the Fayette Field. The company will receive 100% of the net revenue until payout of all costs, at which time Start Scientific will assign a 25% working interest to Durban and partners. There is a 30% royalty burden on the leases, which means that before payout Start Scientific will have 70% of net revenue and after payout the company will have 52.5% of net revenue and Durban will have 17.5% of net revenue.
Operating from its headquarters in San Antonio, Texas, Start Scientific leverages an experienced management team and growing project portfolio to advance its corporate initiatives.
For more information, visit www.startscientificoil.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
(0)
(0)